UNIQA Slovakia Enjoys Considerable Gains in Premiums and Profit

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UNIQA Slovakia Enjoys Considerable Gains in Premiums and Profit

With a premium growth of more than 15% to €72.5 million, the Slovakian subsidiary UNIQA poistovna grew more than twice as fast as the Slovakian insurance market at 7%, according to preliminary data for 2007. With 4.4% market share, this puts UNIQA already in sixth place among the 26 Slovakian insurance companies. In the past year, UNIQA poistovna increased its profit before taxes by 40% to €5.5 million.

Harald Chrstos, CEO of UNIQA poistovna: “From a financial perspective, 2007 was the most successful year in the history of the company. We are particularly pleased by the magnificent recognition of our products by independent institutions. For instance, we received an award from the Slovakian brokers for our motor product and ranked in the top three places in four categories (company, casualty, property and motor liability insurance) in the competition for the best financial products. I see our above-average growth as the result of our energetic efforts to achieve market leadership in quality as well as the correspondingly attentive customer service by our employees and partners, who enjoy working with UNIQA.”

UNIQA exhibited the strongest growth rates in Slovakia in the non-life segment, where premiums grew by 20% to roughly €53 million. The industry growth in this segment was only just over 2%. This exceptional success was driven primarily by motor insurance, where UNIQA achieved growth exceeding 50%. Overall, UNIQA achieved a market share of over 6% in non-life insurance lines, putting us in fourth place on the Slovakian market. The life insurance premiums make up roughly 27% of the total premium volume at almost €20 million (+5%).

In Slovakia, UNIQA employs a staff of 278 salaried employees, has 419 brokers who are active exclusively for UNIQA, serves 320,000 customers with 445,000 contracts and, in addition to the headquarters in Bratislava, maintains over 28 branches plus another 48 insurance agencies throughout the country.

UNIQA Group Austria, according to preliminary results for the financial year 2007, has achieved a premium volume of €5.3 billion, which represents a growth of 3.3% compared to the year 2006, and EBT (IFRS) of €340 million, which represents a growth of 43%. UNIQA Group Austria, which is a market leader in Austria, now generates around one third of its premiums from markets outside of Austria. The company is present in 20 European countries, from Baltic Sea to Mediterranean and Black Sea.

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